Truist Bank Provides $72 Million Refinance For Alpine Residential's 201-Unit Multifamily In Jersey City

The Hazel is a multifamily asset located at 89 Monitor Street, Jersey City, consisting of 201 units delivered in two phases in 2022 and 2024. The property includes 190 market-rate units and 11 affordable units, alongside 9,588 square feet of commercial space and amenities such as a rooftop pool, sky lounge, fitness center, and co-working area. The refinancing was arranged for $72,000,000 through Truist Bank.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $72,000,000
• Loan Type: Refinance
• Loan Terms: five-year, fixed-rate
• Lender: Truist Bank
• Landlord: William Rosato, Todd Schefler & Gideon Friedman - Alpine Residential
• Brokers: Thomas E. Didio, Jr, Thomas Didio, Michael Mataras & Tyler Caricato - JLL
• Units: 201

The refinancing was facilitated by JLL Capital Markets, highlighting the involvement of multiple brokers in the transaction. The property is situated near Liberty State Park Light Rail, enhancing its accessibility and appeal in the Jersey City market.